Technical analysis of EUR/JPY for August 22, 2014

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General overview for 22/08/2014 10:00 CET

This is the last chance scenario for bears impulsive count before the level of 138.02 will be violated and the impulsive count invalidated. Breakout below the golden trendline is the key for further downside move.

Trading recommendations:

Day traders should consider opening sell orders from the current market price with SL above the level of 138.02 and first TP at the level of 137.45.